Inion Oyj - Notice to convene extr.general meeting

Notice of Extraordinary General Meeting

Inion Oy                                    
                           (“Inion or the “Company”)                            
                                                                                
                    Notice of Extraordinary General Meeting                     

Tampere, Finland and Guildford, UK. 21 July 2008, The shareholders of Inion Oy  
(LSE: IIN) are hereby invited to the Extraordinary General Meeting (EGM) of     
Inion Oy to be held on 13 August 2008 at 11.00 a.m. (Finnish time) at the       
Company's headquarters at Lääkärinkatu 2, Tampere, FI-33520, Finland. Attendees 
are invited to arrive for registration from 10.00 a.m. (Finnish time).          

The meeting will consider the following matter:                                 

Election of Mr Ian Paling as member of the Board of Directors                   

As proposed by the Company's Nomination Committee, Mr Ian Paling be elected as a
new member of the Board of Directors and that the Board of Directors appoint him
as the new Chairman of the Board of Directors. Following election, the Board of 
Directors shall consist of eight (8) ordinary members.                          

The meeting materials                                                           

The complete proposals by the Board of Directors and other documents required by
the Companies Act are on display for the shareholders' inspection during a      
period of one week before the meeting on the Company's website at the address   
www.inion.com and also at the Company's headquarters in Tampere at Lääkärinkatu 
2, FI-33520 Tampere, Finland. Copies of the documents are sent to the           
shareholder upon request.                                                       

The right to attend the meeting                                                 

Only those shareholders who are registered as shareholders of the company in the
Company's register of shareholders kept by the Finnish Central Securities       
Depository (Suomen Arvopaperikeskus Oy) on 1 August 2008 will be entitled to    
attend the EGM (in person or by proxy).                                         

Notice of attendance                                                            

A shareholder who wishes to attend the EGM, either in person or by proxy, must  
give notice to the company by 8 August 2008 at 4 p.m. (Finnish time). This can  
be done to Ms. Sanna Hämäläinen either by e-mail to the address                 
sanna.hamalainen@castren.fi, by facsimile to the number + 358 20 7761 344 or by 
mail to Castrén & Snellman Attorneys Ltd, Sanna Hämäläinen P.O. Box 233,        
FI-00131, Helsinki, Finland.                                                    

Eventual proxies for representing a shareholder at the meeting must be delivered
to the company at the address of Castrén & Snellman Attorneys Ltd above on 8    
August 2008 at 4 p.m. (Finnish time) at the latest.                             

Temporary entry in the register of shareholders                                 

Crest Depository Interests                                                      

A holder of Crest Depository Interests who wishes to attend the EGM in person or
by proxy shall notify this to Computershare Investor Services PLC in accordance 
with the instructions sent by Computershare Investor Services PLC separately to 
each holder of Crest Depository Interests.                                      

Other shares registered in the name of a nominee                                

A holder of shares registered in the name of a nominee who intends to use       
his/her/its right to attend the extraordinary general meeting shall notify this 
to the custodian in accordance with the instructions given by the custodian.    
                                                                                

Tampere, on 21 July 2008                                                        
INION OY                                                                        
THE BOARD OF DIRECTORS                                                          

                                     -ends-                                     

For further information, please contact:                                        

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| Inion Oy                                   | Tel: +44 (0)1483 685390         |
| Göran Ando, Chairman                       |                                 |
| Chris Lee, Chief Executive Officer         |                                 |
| Julien Cotta, Chief Financial Officer      |                                 |
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| Citigate Dewe Rogerson                     | Tel: +44 (0)207 638 9571        |
| Mark Swallow /  David Dible                |                                 |
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About Ian Paling                                                                

Mr Paling (56) is a highly regarded businessman with more than 30 years' senior 
management and Board-level experience. Most recently, he was CEO of Corin Group 
PLC (LSE: CRG), a world leader in the development, manufacture and distribution 
of a wide range of reconstructive orthopaedic devices (2002-2007), and was      
previously Group Managing Director (1994-2002). During his time at Corin, Mr    
Paling was instrumental in its growth from a small private business into an     
internationally recognised and successful player in the global orthopaedics     
sector with a strong presence in most of the world's most important markets.    

Prior to this Mr Paling, who has a B.Sc. and M.Sc. in metallurgy, worked for ten
years in senior management roles for several suppliers of orthopaedic devices to
industry.                                                                       

Mr Paling was awarded the Ernst & Young Entrepreneur of the Year Award for the  
Southern Region for 2006 and was voted LSE Mediscience Chief Executive of the   
Year in 2008.                                                                   

Mr Paling was appointed as a Non-Executive Director of Metalrax Group PLC (LSE: 
MRX) in April 2008 and is also a Non-Executive Director of the private UK       
company Sphere Medical Holdings PLC.                                            

Inion confirms that no further information is disclosable in relation to the    
appointment of Ian Paling pursuant to the requirements of UK Listing Rule       
9.6.13.                                                                         


About Inion (www.inion.com)                                                     
Inion Oy is a medical devices company focused on the development and successful 
commercialisation of innovative and unique biodegradable and bioactive surgical 
implants in selected high value orthopaedic market segments.                    

Inion's core expertise and technology lies in the design and manufacture of     
innovative biodegradable plates, screws, pins and membranes, which are used to  
enhance the healing of bone or soft tissue injuries to the skeleton, such as    
those caused by trauma or by reconstructive surgery. Inion implants are made    
from its proprietary Inion Optima™ family of biomaterials, with properties      
tailored for specific surgical applications, in terms of strength, flexibility  
and rate of degradation                                                         
                                                                                
Inion is also focused on developing proprietary new bioactive and               
biodegradable biomaterials that promote bone healing and accelerate patient     
rehabilitation.                                                                 

Inion was incorporated in early 2000 and listed on the Official List of the UK  
Listing Authority in December 2004 (ticker: IIN). The Company has offices in the
UK and USA, and its head office, R&D and production facilities are in Tampere,  
Finland.                                                                        

This announcement includes "forward-looking statements" which include all       
statements other than statements of historical facts, including, without        
limitation, those regarding the Group's financial position, business strategy,  
plans and objectives of management for future operations (including development 
plans and objectives relating to the Group's products), and any statements      
preceded by, followed by or that include forward-looking terminology such as the
words "targets", "believes", "estimates", "expects", "aims", "intends", "will", 
"can", "may", "anticipates", "would", "should", "could" or similar expressions  
or the negative thereof. Such forward-looking statements involve known and      
unknown risks, uncertainties and other important factors beyond the Group's     
control that could cause the actual results, performance or achievements of the 
Group to be materially different from future results, performance or            
achievements expressed or implied by such forward-looking statements. Such      
forward-looking statements are based on numerous assumptions regarding the      
Group's present and future business strategies and the environment in which the 
Group will operate in the future. Among the important factors that could cause  
the Group's actual results, performance or achievements to differ materially    
from those in forward-looking statements include those relating to Inion's      
funding requirements, regulatory approvals, reliance on third parties,          
intellectual property, key personnel and other factors. These forward-looking   
statements speak only as at the date of this announcement. The Group expressly  
disclaims any obligation or undertaking to disseminate any updates or revisions 
to any forward-looking statements contained in this announcement to reflect any 
change in the Group's expectations with regard thereto or any change in events, 
conditions or circumstances on which any such statements are based. As a result 
of these factors, prospective investors are cautioned not to rely on any        
forward-looking statement.